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Wall Street Turns Higher After Lacklustre Start

EQUITIES
  • Equity markets across the US opened flat, in a particularly subdued start to the session. Volumes crossing in the e-mini S&P were at their lowest since New Year's Eve, showing that traders look happy to sit on the sidelines ahead of Thursday's key CPI release.
  • The beleaguered NASDAQ outperformed the S&P500 and DJIA Tuesday, although Monday's highs remained out of reach at 14,806.25, leaving prices closer to recent lows.
  • Energy names were the laggard, slipping alongside WTI and Brent crude prices as markets read into reports that negotiations with Iran were advancing, and as France's Macron appeared to reassure markets that near-term tensions with Russia were more muted over Ukraine.
  • Earnings season has begun to wind down, with 9% of the S&P 500 due to report across the week. Highlights include Amgen, Pfizer, Walt Disney, Coca-Cola and the ratings agencies Moody's and S&P Global.
  • Healthcare and consumer staples make up the bulk of earnings, with Thursday the busiest session for the index.
  • Full earnings schedule for the week here: https://marketnews.com/mni-us-earnings-schedule-qu...

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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